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Arvin, CA Real Estate News

By Miguel Garcia, Certified Default Advocate - Short Sales, REO
(Exp Realty Of California Inc)
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By Efrain Bobadilla
(Re/Max Golden Empire)
  FNMA  anuncio  un incentivo temporal para todos los compradores de sus propiedades en el Programa de HOME PATH  para motivar  a copradores que obtengan casas reposeidas.   FNMA Esta ofreciendo este incentivo  a las propiedades que se vendan entre Enero 28 y Abril 30 2010. Durante este periodo y Al Negociar Estas propiedades se les ofrecera a los compradores  el incentivo del 3.5% del  precio negociado y puede ser usado para lo siguiente: Gastos de cierre  Para electodomesticos Whirlpool por Fannie Mae o para una combinacion sin exeder  3.5% Para ser Elegible tiene que: oferta debe ser aceptada despues de Enero  28, 2010, Escrow tiene que cerrar antes de  Mayo 01, 2010, Y  El compador tiene que ocupar la propiedad  Para mas detalles llameme
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By Efrain Bobadilla
(Re/Max Golden Empire)
HUD has just published some new guidelines that will nix some sales effective immediately if there is any suspicion that the buyer is participating in a Short Sale deal and is simultaneously renting out their previous house.  If they sold their old house at Short Sale simply to take advantage of purchasing a similar or superior house for less, this is also an activity that the FHA will not condone by approving a loan.   The FHA will try to monitor this situation by looking closely at the sources of rental income.  The FHA may consider rental income only when the LTV of the vacated property is 75% or less.  This means that generally rental income will not become a part of the qualifying income used to qualify for the FHA loan.   It is ok for an FHA applicant to be renting out their previ...
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